Reality finally caught up with the Aussie, who in recent days strongly tried to stay above parity. At night, the Australian rolled back to 0.9825 (now 0.9870) against a background of debt issues in Europe that caused the shift to the dollar, increasing risk-aversion and concern that China is preparing for another tightening of monetary policy. The sharp decline partly reflects the many Sell-stops, which was greater than in any other currency pair. By the Australian was a huge speculative interest on the part of playing on the rise over the past few months. It is likely that there are many more "non-washed" Longo, thus, more likely, an Australian could suffer further in the near future. Nevertheless, it will be interesting to know what the answer will be of Asian central banks to the weakness of the Australian, as in recent days, it seems they were very concerned about the risk euros.
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